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Oil products

**Oil Products**

Oil products, also known as petroleum products, are the end products derived from the processing of crude oil in oil refineries. Crude oil is a fossil fuel that consists of a complex mixture of hydrocarbons and other chemical compounds. Refineries break down these hydrocarbons through various refining processes, such as distillation, cracking, and reforming, to create a spectrum of products that vary in complexity and use.

The most commonly known oil products include gasoline (petrol) and diesel, used primarily as fuel for vehicles. Other products include kerosene, used in aviation fuel and heating; lubricants used in machinery; and heavier fuels for ships and industrial heating. The petrochemical industry further uses oil products as raw materials to manufacture plastics, synthetic rubber, fertilizers, and a vast array of chemicals.

Oil products are essential to modern society, powering transportation, heating homes, and serving as the basis for countless consumer goods. The ubiquity of these products means that the oil industry’s economic health often has significant implications for global markets and geopolitics.

It is important to note that the use of oil products comes with environmental consequences, including the emission of greenhouse gases contributing to climate change. There is an ongoing push towards renewable energy sources and sustainable practices to reduce reliance on fossil fuels and mitigate their environmental impact.

For further information regarding oil products, please refer to the following resources:

1. U.S. Energy Information Administration (EIA) – The EIA provides comprehensive information on various oil products, their uses, and statistics on production and consumption in the United States.

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2. International Energy Agency (IEA) – The IEA offers detailed market analysis, data, and reports on oil products as part of its broader coverage of energy markets around the world.

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Please note that these links are accurate as of the latest knowledge cutoff date, and the status of these websites can change. It is always a good idea to check the links periodically to ensure they are still active and relevant.

This A.I.-generated glossary is intended to provide a convenient means to understand terminology used on this website in the context of physical commodities trading. Some terms may have alternative and/or expanded definitions that may not be relevant here and thus not included. Sources provided are for reference and not intended to be an endorsement of the broader content on that website. Suggestions, questions, or corrections can be provided in the comment box on definition pages.